American Equity reports net loss in fourth quarter; quarterly sales up 100% businessrecord.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessrecord.com Daily Mail and Mail on Sunday newspapers.
American Equity Investment Life Holding Co. on Wednesday reported fourth-quarter earnings of $8.7 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share. Three analysts surveyed by Zacks expected $534.5 million.
Canada Reports 20-Year High in Overseas Investment in Insurance M&A
Canadian firms’ overseas investment in insurers hit a 20-year high this year boosted by Intact Financial’s joint agreement last month to buy British insurance group RSA for 7.2 billion pounds ($9.6 billion) and market participants expect more deals in 2021.
The RSA deal is one of the largest examples of insurers pulling in buyers this year, as a sharp rise in premiums has outweighed hefty coronavirus pandemic claims.
International deals in insurers involving Canadian investors rose to $11.6 billion in 2020, the highest in at least two decades, according to data from Refinitiv.